PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

12 Months Ended

Dec. 31, 2021

Prepaid Expense and Other Assets, Current [Abstract]

PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

6. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET

Prepaid expenses and other current assets consist of the following:


	As of December 31,
	2020			2021
	RMB			RMB
Receivables from third-party payment settlement platform (1)		33,154			35,682
Deposits		62,540			24,572
Prepaid advertising expenses		5,482			7,840
Short-term loan receivables (2)		130,629			221,211
VAT-input deductible		126,455			103,519
Receivables from disposal of a subsidiary (3)		26,676			16,713
Others		28,459			25,971
Less: allowance for credit losses		(2,972	)		(4,791	)

Total prepaid expenses and other current assets, net		410,423			430,717

(1)	Receivables from third-party payment settlement platform represent cash due from the third party on-line payment service providers in relation to their processing of payments to the Group.

(2)

Short-term loan receivables represent the principal and interest to be collected on loans provided by the Group to third-party companies. As of December 31, 2021, the loans include seven loans to six companies with principal amount of US$ 15.3 million (equivalent to RMB 97,548), US$ 4.7 million (equivalent to RMB 29,966), RMB 800, RMB 12,000, RMB 10,000, RMB 30,000 and RMB 40,000, respectively. As of December 31, 2020, the loans include three loans to a customer which were all renewed in 2021 with total principal amount of US$ 20 million (equivalent to RMB 130,498). The terms of loans are of

one-year

term and with fixed annual interest at approximately 4%~12% within the market rate range, and mature within one year.

(3)

In the fourth quarter of 2020, the Group disposed of a subsidiary, Wuhan Yunteng Logistics Co., Ltd. (“Wuhan Yunteng”), to a third party for a total cash consideration of RMB 26,676 , with a loss of RMB 1.0 million recorded in other

non-operating

income/(loss) (Note 19). As of December 31,2021, RMB 16,713 remained uncollected.